Nuveen Asset Management LLC cut its stake in Kinsale Capital Group, Inc. (NYSE:KNSL – Get Rating) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,299 shares of the financial services provider’s stock after selling 4,079 shares during the quarter. Nuveen Asset Management LLC owned about 0.44% of Kinsale Capital Group worth $25,619,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System increased its stake in shares of Kinsale Capital Group by 0.6% in the 3rd quarter. Arizona State Retirement System now owns 5,914 shares of the financial services provider’s stock worth $1,511,000 after acquiring an additional 34 shares during the last quarter. Money Concepts Capital Corp increased its position in shares of Kinsale Capital Group by 8.5% during the 3rd quarter. Money Concepts Capital Corp now owns 534 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 42 shares during the last quarter. Profund Advisors LLC increased its position in shares of Kinsale Capital Group by 3.9% during the 3rd quarter. Profund Advisors LLC now owns 1,223 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 46 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Kinsale Capital Group by 4.9% during the 1st quarter. Mackenzie Financial Corp now owns 1,136 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 53 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Kinsale Capital Group by 9.7% during the 2nd quarter. Van ECK Associates Corp now owns 644 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 57 shares during the last quarter. 85.97% of the stock is owned by institutional investors and hedge funds.
Kinsale Capital Group Stock Performance
NYSE KNSL opened at $317.40 on Thursday. The company has a market cap of $7.27 billion, a P/E ratio of 46.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a 50-day moving average of $286.78 and a two-hundred day moving average of $282.68. Kinsale Capital Group, Inc. has a 1-year low of $196.00 and a 1-year high of $337.11.
Kinsale Capital Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Tuesday, February 28th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Monday, February 27th. This is a boost from Kinsale Capital Group’s previous quarterly dividend of $0.13. Kinsale Capital Group’s dividend payout ratio (DPR) is presently 8.14%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on KNSL shares. Truist Financial raised their price objective on Kinsale Capital Group from $335.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Compass Point downgraded Kinsale Capital Group from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $330.00 to $350.00 in a research report on Tuesday, February 21st. Jefferies Financial Group started coverage on Kinsale Capital Group in a research report on Monday, December 12th. They set a “hold” rating and a $295.00 price objective for the company. BMO Capital Markets began coverage on Kinsale Capital Group in a research report on Thursday, January 19th. They set an “underperform” rating and a $230.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on Kinsale Capital Group from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Kinsale Capital Group presently has a consensus rating of “Hold” and a consensus price target of $327.00.
Insider Activity
In other news, CFO Bryan P. Petrucelli sold 10,000 shares of Kinsale Capital Group stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $322.66, for a total value of $3,226,600.00. Following the completion of the transaction, the chief financial officer now owns 59,146 shares in the company, valued at approximately $19,084,048.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.20% of the company’s stock.
About Kinsale Capital Group
Kinsale Capital Group, Inc is a holding company, which engages in the provision of property and casualty insurance services. It operates the Excess and Surplus Lines Insurance segment. The Excess and Surplus Lines Insurance segment provides commercial excess and surplus lines liability and property insurance products through underwriting divisions.
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